Sep. 29 at 12:52 PM
$ITMSF Intermap Technologies Corporation (TSX: IMP; OTCQB: ITMSF) has closed an upsized bought deal public offering, raising gross proceeds of
$28,752,300. The company issued 9,584,100 Class A common shares at
$3.00 per share, including the full exercise of the over-allotment option by the underwriters. The offering was led by Stifel Nicolaus Canada Inc., with Canaccord Genuity Corp. and Beacon Securities Limited also participating. Net proceeds will be used for working capital and general corporate purposes. As part of the transaction, the underwriters received an aggregate cash commission of
$1,725,138 and 575,046 compensation warrants, each allowing the purchase of one common share at USD
$2.1758 until September 29, 2027. The offering remains subject to final approval by the Toronto Stock Exchange.